3,800 Shares in Cummins Inc. $CMI Bought by Pensionfund Sabic

Pensionfund Sabic acquired a new position in shares of Cummins Inc. (NYSE:CMI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,800 shares of the company’s stock, valued at approximately $1,940,000.

A number of other hedge funds have also bought and sold shares of CMI. Gilbert & Cook Inc. boosted its stake in shares of Cummins by 1.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,856 shares of the company’s stock worth $947,000 after purchasing an additional 19 shares during the period. Sound View Wealth Advisors Group LLC raised its position in Cummins by 2.1% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 981 shares of the company’s stock worth $501,000 after purchasing an additional 20 shares during the period. United Capital Management of KS Inc. lifted its stake in Cummins by 2.0% in the third quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock worth $485,000 after purchasing an additional 22 shares during the last quarter. Betterment LLC lifted its stake in Cummins by 3.5% in the third quarter. Betterment LLC now owns 673 shares of the company’s stock worth $284,000 after purchasing an additional 23 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its position in shares of Cummins by 0.4% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock valued at $2,499,000 after buying an additional 24 shares during the period. Institutional investors own 83.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group set a $565.00 target price on Cummins and gave the company a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Citigroup upped their price objective on Cummins from $580.00 to $630.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Zacks Research lowered Cummins from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 28th. Finally, Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 target price for the company. in a research report on Monday, January 26th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $588.93.

Cummins Stock Up 1.0%

Shares of Cummins stock opened at $553.80 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. The company has a market cap of $76.51 billion, a P/E ratio of 26.99, a PEG ratio of 1.74 and a beta of 1.12. The firm’s 50 day moving average price is $573.30 and its 200-day moving average price is $503.75. Cummins Inc. has a 52-week low of $260.02 and a 52-week high of $617.98.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The company had revenue of $8.54 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the prior year, the company posted $5.16 earnings per share. Cummins’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were given a $2.00 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.4%. Cummins’s dividend payout ratio (DPR) is presently 38.99%.

Insider Activity

In other Cummins news, VP Earl Newsome sold 1,300 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the sale, the vice president owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the completion of the sale, the vice president directly owned 7,214 shares of the company’s stock, valued at approximately $4,329,337.82. This represents a 18.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,195 shares of company stock worth $18,397,489 over the last quarter. Company insiders own 0.41% of the company’s stock.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.